Abbott Laboratories (NYSE: ABT) warned of lower-than-expected profit for the current quarter, citing struggles in its pediatric nutrition business after losing a major US government contract. CEO Robert Ford stated rising production costs led to price increases, impacting demand. All four business segments missed sales estimates, with nutrition sales dropping 8.9% year over year.

Abbott expects adjusted earnings of $1.12 to $1.18 per share in the first quarter, below analyst consensus. Fourth-quarter earnings were $1.50 per share, matching forecasts. Total revenue for the quarter ended December 31 fell short of expectations at $11.46 billion. The company is a global healthcare company focusing on various healthcare products.

While Abbott Laboratories (NYSE: ABT) faces profit headwinds, it remains a global healthcare company with a wide range of products. Despite challenges in its pediatric nutrition business, CEO Robert Ford anticipates a return to positive growth in the second half of the year. Performance across all business segments was weaker than expected, with sales missing estimates.

Read more at Yahoo Finance: Abbott (ABT) Faces Profit Headwinds as Pediatric Nutrition Remains Under Pressure